On April 6 in Ho Chi Minh City, Power Generation Corporation No.3 - JSC (EVNGENCO 3) celebrated its 10th Anniversary (2012 - 2022).
Mr. Duong Quang Thanh - Secretary of EVN’s Party Committee, Chairman of EVN's Board of Directors (left), as authorized, awarding Government's Emulation Flag to EVNGENCO 3 - Photo: Thanh Trung
Many outstanding achievements
Mr. Nguyen Huu Hiep (left) - Member of Standing Committee of Ho Chi Minh City Party Committee, Secretary of Party Committee of Thu Duc City (HCMC) presenting Ho Chi Minh City People’s Committee’s Traditional Flag for EVNGENCO 3 - Photo: Thanh Trung
Currently, Power Generation Corporation No.3 owns and operates power plants with a total installed capacity of more than 6,565MW, including combined cycle gas turbines, coal-fired thermal, hydropower, and solar power plants. The total electricity output in the past 10 years has been 306 billion kWh, with more than 30 billion kWh being generated per year on average, contributing 14.9% of electricity output to the national power system on average. The economic and technical indicators have been fulfilled, especially the coal heat loss rate has decreased sharply. The Corporation has always paid attention to the consumption of ash and slag, and building a green, clean and pleasant environmental landscape.
In the period of 2013 - 2022, the Corporation has both performed investments in and worked as a project management consultant for EVN’s projects, putting into commercial a total capacity of 5,726MW with a total net investment value of about VND 145,000 billion. These projects are Ban Chat Hydropower Plant (220MW); Vinh Tan 2 Thermal Power Plant (1,244MW); Mong Duong 1 Thermal Power Plant (1,080MW); Vinh Tan 4 and Vinh Tan 4 Extension Thermal Power Plants (1,800MW); Thai Binh 1 Thermal Power Plant (600MW); Thuong Kon Tum Hydropower Plant (220MW), Vinh Tan 2 Solar Power Plant (42.65MWp), etc.
Mr. Duong Quang Thanh - Secretary of Party Committee, Chairman of Board of Directors of EVN, as authorized by Commission for the Management of State Capital at Enterprises, awarding Certificates of Merit to collectives and individuals - Photo: Thanh Trung
Financial indicators of EVNGENCO 3 have been increasingly healthy. Currently, the Corporation's consolidated debt-to-equity ratio has dropped to less than 3. The milestone in the corporate restructuring was marked on February 10, 2022, when more than 1.1 billion shares of the Corporation (code PGV) were officially listed on the Ho Chi Minh City Stock Exchange (HOSE). This is an opportunity for the Corporation to approach investors and attract financial sources for stronger development in the coming time.
The corporate governance of EVNGENCO 3 has been increasingly systematic and advanced. The Corporation has been awarded the Global Gender Equality Certificate by the EDGE Certified Foundation (Switzerland) twice in a row. The human resources of EVNGENCO 3 are getting better and better, possessing a pioneering, accountable, enthusiastic, creative work spirit. The Corporation has regularly improved the HR capacity through training courses in line with the clean energy development strategy such as training in wind turbine technology in the US, training on developing offshore wind power projects in Australia, etc.
With the motto of production and business associated with social responsibility, over the past 10 years, EVNGENCO 3 has constantly actively performed social security activities, for the sake of the community, with many practical activities and a total cost of about VND 80 billion.
EVN’s President and CEO Tran Dinh Nhan presenting Certificates of Merit from Vietnam Electricity to collectives and individuals - Photo: Thanh Trung
Persistent stay on the new path
Leaders of EVNGENCO 3 presenting flowers to former leaders of Corporation and its units - Photo: Thanh Trung.
In order to meet the long-term development goals and maintain a proper market share in the coming period, EVNGENCO 3 will deploy appropriate plans in various fields such as securing fuel supplies for production, actively seeking alternative sources; developing service delivery; restructuring and shifting to clean energy sources. Currently, the Corporation has been considering investment in Long Son 1 LNG power project (1,500 MW), Simacai hydropower project (18 MW), etc. These projects are expected to contribute to the general growth of the power sector and ensure national energy security.
Leaders of EVNGENCO 3 presenting flowers to leaders of Thu Duc City and leaders of EVN - Photo: Thanh Trung